News & Reviews:   Bank Negara Malaysia

If you regularly watch YouTube and don’t have an ad-blocker turned on, then it’s very likely that you’ve been bombarded with annoying ads by a company called OctaFX offering investment and financial services. Well, as it turns out, OctaFX's aforementioned services and operation were never authorised or approved by Bank Negara Malaysia (BNM).

Previously, we reported that the federal government is investigating the iPay88 cybersecurity breach in which Malaysian consumers’ card data may have been compromised. Now, even Bank Negara Malaysia (BNM) has issued a statement regarding the incident, reassuring the people that the nation’s payment system remains safe and secure.

Today, the Bank Negara Malaysia (BNM) has officially announced five successful applicants for the digital bank licence. If you recall back, a total of 29 applications were sent but only a handful got approved by the Minister of Finance Malaysia.

During the Movement Control Order period, the government announced that every Malaysian citizen will get their financial relief fund via Bantuan Prihatin Nasional payment. However, 6 Malaysians have somehow lost nearly RM300,000 to scammers online through an APK installation via WhatsApp. Today, the Bank Negara Malaysia (BNM) have issued a step by step on how to prevent fro being scammed so here are the steps.

Digital banking is something Malaysia is looking into and many companies are hoping to get the licence to operate one in Malaysia. Thus far, the companies that are interested seem to include Grab, Razer, AirAsia, Axiata, CIMB, Ant Financial, and possibly Maybank.